As house prices face their biggest decrease in 18 months, Rick Flay at Belvoir Sheffield, the leading lettings agent in Sheffield is advising landlords why now is the perfect time to invest in properties to rent.
According to the latest Halifax price index, the average cost of a home dropped 1.4 per-cent during April to stand at £160,395, the lowest level since July 2009. This means that for the residential landlord, now is a perfect time to buy.
Rick, from Belvoir Sheffield, who specialise in providing flats to rent in Sheffield, said: “Due to the economic uncertainty surrounding consumers at the present time, there is a reluctance to buy property, thus contributing to the decrease in house prices. ‘This decrease means that for investors who can secure a buy-to-let mortgage or have some spare cash to spend, the market is extremely buoyant.
Critics have warned that if rents continue to rise at their current pace, it would cost an average of £715 a month to rent a home outside London in a year’s time.
Rick added: “Last month LSL, the letting agents network confirmed reported that rents were at their highest level since November 2010, when they peaked ahead of the festive season and critics believe that it will not be long before they stabilise again, but this will depend on how many houses come onto the market and mortgage availability.
“I am urging landlords to act now to secure the very best property deals or risk losing out on the deal of a lifetime. There has never been a better time to invest in a buy-to-let property.”
Belvoir Lettings Agency Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances
